Proficio Capital Partners LLC Takes $5.85 Million Position in Fortive Co. (NYSE:FTV)

Proficio Capital Partners LLC purchased a new stake in Fortive Co. (NYSE:FTV - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 77,957 shares of the technology company's stock, valued at approximately $5,847,000.

Several other institutional investors and hedge funds have also bought and sold shares of FTV. Private Advisor Group LLC raised its stake in Fortive by 3.6% during the third quarter. Private Advisor Group LLC now owns 3,899 shares of the technology company's stock worth $308,000 after acquiring an additional 135 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Fortive by 13.0% in the third quarter. Farther Finance Advisors LLC now owns 4,619 shares of the technology company's stock valued at $365,000 after acquiring an additional 533 shares during the last quarter. Forum Financial Management LP lifted its position in shares of Fortive by 14.5% during the 3rd quarter. Forum Financial Management LP now owns 3,924 shares of the technology company's stock valued at $310,000 after acquiring an additional 497 shares during the period. Asset Management One Co. Ltd. grew its holdings in shares of Fortive by 1.7% during the third quarter. Asset Management One Co. Ltd. now owns 146,618 shares of the technology company's stock valued at $11,573,000 after buying an additional 2,390 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in Fortive by 5.3% during the third quarter. QRG Capital Management Inc. now owns 19,485 shares of the technology company's stock valued at $1,538,000 after purchasing an additional 978 shares during the period. Institutional investors own 94.94% of the company's stock.

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Analyst Ratings Changes

Several equities analysts recently issued reports on FTV shares. Citigroup cut shares of Fortive from a "buy" rating to a "neutral" rating and reduced their price target for the company from $92.00 to $86.00 in a research report on Monday, December 9th. Wells Fargo & Company lifted their price target on shares of Fortive from $80.00 to $85.00 and gave the stock an "equal weight" rating in a report on Monday, February 10th. Barclays decreased their price target on shares of Fortive from $95.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, January 8th. UBS Group began coverage on shares of Fortive in a research report on Wednesday, November 13th. They set a "neutral" rating and a $84.00 price target for the company. Finally, Argus restated a "hold" rating on shares of Fortive in a research note on Monday, November 18th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $87.64.

Fortive Trading Down 0.8 %

FTV traded down $0.62 during trading hours on Friday, reaching $76.58. The company's stock had a trading volume of 3,257,187 shares, compared to its average volume of 2,107,048. The stock has a market cap of $26.06 billion, a PE ratio of 32.45, a P/E/G ratio of 2.68 and a beta of 1.15. Fortive Co. has a fifty-two week low of $66.15 and a fifty-two week high of $87.10. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.16 and a quick ratio of 0.91. The business's 50-day moving average is $78.93 and its 200-day moving average is $76.72.

Fortive (NYSE:FTV - Get Free Report) last issued its quarterly earnings data on Friday, February 7th. The technology company reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. Fortive had a return on equity of 13.15% and a net margin of 13.36%. During the same quarter in the prior year, the business posted $0.98 earnings per share. As a group, equities research analysts predict that Fortive Co. will post 4.05 earnings per share for the current fiscal year.

Fortive Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, February 28th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, February 28th. Fortive's payout ratio is 13.56%.

Insider Activity at Fortive

In other news, CAO Christopher M. Mulhall sold 6,493 shares of the business's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $79.95, for a total transaction of $519,115.35. Following the completion of the transaction, the chief accounting officer now directly owns 24,283 shares of the company's stock, valued at approximately $1,941,425.85. The trade was a 21.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James A. Lico sold 196,117 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $80.38, for a total transaction of $15,763,884.46. Following the transaction, the chief executive officer now owns 528,851 shares of the company's stock, valued at $42,509,043.38. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 243,385 shares of company stock worth $19,508,529. Corporate insiders own 1.01% of the company's stock.

Fortive Company Profile

Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.